Etisalat, Vivendi extend Maroc Telecom deadline

first_img EtisalatFinancialMaroc TelecomMoroccoVivendi Tim joined Mobile World Live in August 2011 and works across all channels, with a particular focus on apps. He came to the GSMA with five years of tech journalism experience, having started his career as a reporter… More Read more Related Rakuten adds Etisalat to RCP open RAN list Author Etisalat to bring open RAN to Afghanistan Etisalat interim chief made permanent AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 30 SEP 2013 Talks for Etisalat to acquire a 53 per cent stake in Maroc Telecom from French media group Vivendi are continuing, with the validity period for the binding offer and period of exclusivity granted to Etisalat extended to 31 October.It was confirmed in July that Vivendi was in exclusive talks with UAE-based Etisalat regarding the sale of the stake in Morocco’s largest operator for €4.2 billion.But an Etisalat statement to the Abu Dhabi stock exchange over the weekend said the talks had been extended beyond the original deadline of 25 September. No reason was given.With the Moroccan government holding a 30 per cent stake in Maroc Telecom, it must approve the deal for it to go ahead.Although it is believed the state is not against the deal in principle, Etisalat said the final agreement is subject to “execution of a shareholders’ agreement with the Kingdom of Morocco” and “securing competition and regulatory approvals”.Back in July, Vivendi said a final agreement was subject to consultation with the French Works Councils and negotiating approvals between Etisalat and the Moroccan government. It has also been suggested that the Moroccan authorities want Etisalat to work with a local partner as part of its approval conditions for the deal.Both Qatari operator group Ooredoo and South Korea’s KT had previously expressed an interest in Maroc Telecom but withdrew their interests due to concerns about the length of the process and the valuation of the stake respectively.Vivendi has been looking to sell its stake in Maroc Telecom — which also operates in Burkina Faso, Gabon, Mali and Maurtainia — as it shifts its focus away from telecoms and towards its media properties, which include Universal Music Group and French pay TV company Canal Plus.The future of Vivendi-owned French operator SFR is also uncertain, with reports that an IPO is being considered for the business. Vivendi has also suggested it could restart an auction for its Brazilian phone operator GVT, which was suspended in March after failing to secure a suitable price. Home Etisalat, Vivendi extend Maroc Telecom deadline Previous ArticleTelecom Italia chief mulls resignation – reportsNext ArticleTelefonica slams Czech 4G auction rules Tim Ferguson Tags last_img read more

High Five

first_imgBETHESDA, Md. – Forget about whether Patrick Reed is a top 5 player, it’s best to let history and the big heads at the Official World Golf Ranking sort that out. What needs to be considered when forming an opinion about Reed is his on-course performance multiplied by his limited body of work. Reed has three PGA Tour victories in his last 22 starts and is 18 holes away from completing the single-season trifecta following a 71 on Saturday at the Quicken Loans National that left him alone atop the leaderboard. That may not technically make him a top-5 player – he’s currently ranked 29th for those scoring at home – but over the last 12 months only No. 1 Adam Scott has four “Ws,” and two of those tilts, the Australian PGA and Australian Masters, came against less-than-world-class fields. In a town where declarations rarely dovetail with deeds, Reed is a top-5 player in spirit if not on the spreadsheet. The 23-year-old has become an easy target in recent weeks as he followed his boastful claims at the WGC-Cadillac Championship with some serious backpedaling. He missed the cut in five of his next eight starts and hasn’t finished better than 35th since he rubbed many the wrong way with his brash announcement at Doral that he considered himself a top 5 player. Quicken Loans National: Articles, videos and photos To be clear, there is nothing wrong with thinking you’re a top 5 player – in fact, in his line of work it would be considered an occupational hazard to think otherwise. The problem, as many both inside and outside of the ropes figured, is telling the world how good you are. On this Arnold Palmer seems an appropriate final voice: “As my father taught me, and he drove home that point, he said, ‘Just remember something. You don’t need to tell people how good you are. You need to show them how good you are’,” the King said in March. “Win, and win as much as you can. I think (Jack) Nicklaus has done that. Tiger (Woods) has done that. I never heard Jack Nicklaus say, ‘I’m a great player,’ or Tiger Woods, as a matter of fact. They just get out and do it.” To Reed’s credit, he’s weathered the slings and arrows of his media miscue with a level of restraint that, at least according to those who have spent any amount of time with him, defies his DNA. Reed came by his post-WGC-Cadillac Championship swoon honestly. On May 22, he and his wife Justine welcomed the couple’s first child to the family, daughter Windsor-Wells, and on Saturday he admitted the budding family took an understandable toll on his day job. “After we played Doral, I was more focused on making sure Justine was alright and making sure the baby was fine,” Reed said. “Family comes first, so I was more focusing on that.” Nor is he oozing his signature swagger at Congressional, where an increasingly difficult golf course resulted in traffic largely bound in one direction on Saturday – south. Reed bogeyed Nos. 7, 8 and 13 but still never fell out of the lead and finished with a birdie at the 16th hole to stake his claim to a two-stroke advantage heading into the final lap. It’s also worth noting that Reed’s performance at Congressional has not exactly been a fairways-and-greens clinic. He connected with fewer than half of the Blue Course’s fairways on Saturday, hitting six of 14 in the short grass off the tee, but has saved par six out of the nine times he’s missed a green this week. “Even if you get a good lie in the rough it’s just minimizing those errors on those risks,” said Reed, who is 3-for-3 on Tour after taking at least a share of the lead into the final quarter. “You get in the rough, you might have to play 40 feet away from the flag. You just have to.” Whether Patrick Reed is a top-5 player really doesn’t matter. The record on this is as clear as a warm summer day in the nation’s capital; he has the ability to play like one and he has established himself as the clear headliner at an event suddenly starved for attention after Woods missed the cut. There will be a front-runner on Sunday clad in red and black, just not the guy that’s actually in the top 5 of the world ranking. At least, not yet.last_img read more